The Reserve Bank of India (RBI) is confident it will handle the credit policy without any major blips, finance minister Nirmala Sitharaman said on September 7.
India’s central bank has raised interest rates sharply since May to curb red-hot inflation. The monetary authority had for two years kept policy ultra-accommodative after the coronavirus outbreak.
“We are confident that the steps that the US Fed may take or the European Central Bank may take, the Indian central bank is fairly clued in into the developments which are happening all around and they are confident of handling the Indian monetary policy without major blips or rise and fall,” Sitharaman said at the India Ideas Summit organised by the US-India Business Council.
India has been able to lower inflation to manageable levels in the last couple of months, the finance minister said.